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Politics : High Tolerance Plasticity

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To: Wowzer who wrote (1402)	3/12/2001 2:03:28 PM
From: Tommaso	Read Replies (3) of 23153

I would like to point out again that one can buy LEAP puts on the Dow that expire December 2002 at a strike of 140 (14,000 Dow) for, right now, about 28, or $2,800. I am holding several of these, and with my short position in SPY and the BEARX in the IRAs, it makes a day like today a lot more comfortable. I mention specifically the Dow puts (symbol YDXXJ) because they seem such an extraordinary value even now. To buy any more I would have to go into a savings account that I don't use for speculation, or else sell some energy stocks that I want to hold for long term gains. But if the energy stocks get dragged down along with everything else, the Dow puts will more than make up those losses.

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